CANADA STOCKS-TSX little changed, gold miners rise

Mon Aug 16, 2010 10:40am EDT
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*TSX up 4.99 points at 11,533.24

*Three of TSX's 10 main sectors higher (Updates to midmorning, adds quote)

By Jennifer Kwan

TORONTO, Aug 16 (Reuters) - Toronto's main stock index was little changed on Monday morning, getting support as gold miners rose with strengthening bullion prices following weaker-than-expected growth numbers from Japan.

The price of gold hit a seven-week high as investors flocked to the safe-haven appeal of the precious metal after data showed Japan's economy grew just 0.1 percent in the second quarter, well below forecasts. [GOL/] The data pressured Asian equities and that weakness fed into European trading. [MKTS/GLOB] For details, see [ID:nTOE67901S]

Barrick Gold (ABX.TO: Quote), the world's No. 1 gold producer, climbed 1.5 percent to C$45.44, while fellow miner Goldcorp (G.TO: Quote) rose 1.6 percent to C$42.01.

At 10:22 a.m. (1422 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 4.99 points at 11,533.24, with three of its 10 main sectors higher.

Concerns about the health of the global economy kept investors in a cautious mood, however.

Toronto-Dominion Bank (TD.TO: Quote) was down 0.3 percent at C$70.87, while Royal Bank of Canada (RY.TO: Quote) was 0.3 percent lower at C$51.15.   Continued...